Pier 88 Investment Partners LLC Buys 16,740 Shares of Revolve Group, Inc. (NYSE:RVLV)

Pier 88 Investment Partners LLC increased its stake in shares of Revolve Group, Inc. (NYSE:RVLV - Free Report) by 104.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,780 shares of the company's stock after acquiring an additional 16,740 shares during the quarter. Pier 88 Investment Partners LLC's holdings in Revolve Group were worth $704,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC increased its position in Revolve Group by 40.4% during the 1st quarter. CWM LLC now owns 2,905 shares of the company's stock valued at $62,000 after purchasing an additional 836 shares during the period. Castlekeep Investment Advisors LLC purchased a new position in Revolve Group during the 4th quarter valued at about $65,000. Wallace Advisory Group LLC purchased a new position in Revolve Group during the 1st quarter valued at about $136,000. Neo Ivy Capital Management purchased a new position in Revolve Group during the 4th quarter valued at about $156,000. Finally, First Trust Advisors LP purchased a new position in Revolve Group during the 4th quarter valued at about $209,000. Institutional investors own 67.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Piper Sandler dropped their target price on shares of Revolve Group from $35.00 to $22.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Morgan Stanley set a $22.00 target price on shares of Revolve Group and gave the stock an "equal weight" rating in a research report on Monday. Barclays restated a "reduce" rating on shares of Revolve Group in a research note on Wednesday, May 7th. Stifel Nicolaus decreased their price objective on shares of Revolve Group from $40.00 to $28.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, KeyCorp decreased their price objective on shares of Revolve Group from $37.00 to $25.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Revolve Group has a consensus rating of "Moderate Buy" and an average price target of $26.53.

Revolve Group Stock Up 3.4%

NYSE RVLV traded up $0.73 during trading on Tuesday, hitting $21.95. The stock had a trading volume of 324,904 shares, compared to its average volume of 1,389,005. The company has a market capitalization of $1.56 billion, a PE ratio of 31.81, a PEG ratio of 3.10 and a beta of 1.98. Revolve Group, Inc. has a twelve month low of $16.80 and a twelve month high of $39.58. The firm has a 50 day moving average price of $20.82 and a 200 day moving average price of $23.62.

Revolve Group (NYSE:RVLV - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. The company had revenue of $296.71 million for the quarter, compared to analyst estimates of $297.56 million. Revolve Group had a net margin of 4.37% and a return on equity of 11.76%. The firm's quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.15 EPS. On average, sell-side analysts anticipate that Revolve Group, Inc. will post 0.6 earnings per share for the current year.

Revolve Group Profile

Revolve Group, Inc operates as an online fashion retailer for millennial and generation z consumers in the United States and internationally. The company operates in two segments, REVOLVE and FWRD. It operates a platform that connects consumers and global fashion influencers, as well as emerging, established, and owned brands.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.